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Mac Purchased on 15th Jan 12000/-
30th June Machinery damaged due to Fire Accident
31st Dec received the Insurance Premium 13000/-.
Pass the Journal Entry for all the above three
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Answer Posted / sunil
15TH JAN DEBIT CREDIT
MACHINARY A/C 12000/-
TO CASH/CREDITOR A/C 12000/-
30TH JUNE
INSURANCE PREMIUM CLAIM A/C 12000/-
TO MACHINARY A/C 12000/-
31ST DEC
CASH / BANK A/C 13000/-
TO INSURANCE PREMIUM CLAIM A/C 12000/-
TO OTHER INCOME 1000/-
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